SPOTIFY TECHNOLOGY SA (SPOT) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:SPOT - LU1778762911 - Common Stock
Taking everything into account, SPOT scores 1 out of 10 in our technical rating. SPOT has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
The technical rating of SPOT is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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551.59
When analyzing the support we notice one important area.
- A support zone ranging from 557.16 to 564.92. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 4 important resistance areas.
- A resistance zone ranging from 597.62 to 597.81. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @609.42 from a horizontal line in the daily time frame.
- A resistance zone ranging from 694.10 to 701.16. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @720.91 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for SPOT is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for SPOT is down. |
| ChartMill Relative Strength | 51.14 | NEUTRAL | SPOT is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SPOT is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of SPOT is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of SPOT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 41.25 | NEUTRAL | The RSI value for SPOT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 3.28 | POSITIVE | The MACD value suggests SPOT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 50.46 | NEUTRAL | The Stochastics value for SPOT is a neutral value. |
| Average True Range in percent/ATR (20) | 3.32 | MEDIUM VOLATILITY | The ATR as a percentage value for SPOT suggests some volalility. |
| Average Directional Index/ADX (14) | 21.88 | NEUTRAL | The ADX value for SPOT suggests a possible start of a new trend. |
579.07
+1.92 (+0.33%)
SPOTIFY TECHNOLOGY SA / SPOT FAQ
What is the technical rating for SPOT stock?
ChartMill assigns a technical rating of 1 / 10 to SPOT.
What is the current trend direction of SPOTIFY TECHNOLOGY SA (SPOT) stock?
The current trend direction for SPOTIFY TECHNOLOGY SA (SPOT) is Bearish.
Can you provide the RSI signal for SPOTIFY TECHNOLOGY SA?
SPOTIFY TECHNOLOGY SA (SPOT) has an RSI value of 41.2478. This indicates that the stock is currently neutral.
Can you provide the MACD signal for SPOTIFY TECHNOLOGY SA?
The MACD indicator for SPOTIFY TECHNOLOGY SA (SPOT) has a value of 3.27957, indicating a bullish trend.
What is the buy/sell signal for SPOT stock?
The buy/sell signal for SPOTIFY TECHNOLOGY SA (SPOT) is sell as both the short term and long term trends are negative.